Back to the blogs list

Virtual viewings – how can they help buyers and sellers during lockdown?

The government’s lockdown measures and strict rules on social distancing are in place until at least May 7 – and will potentially be extended beyond that – which means we will all have to continue adapting to the new normal for a while yet.

Industries across the country are having to adapt and evolve their services during this period of lockdown, and that very much includes estate agents, who are finding innovative, tech-led ways to keep house sales moving when physical viewings are, for obvious reasons, not an option.

Released on Friday 27 March and unchanged since, the definitive government guidance on buying and selling during the coronavirus crisis outlines what can and can’t be done while stay at home measures are in place.

Although there is no need for people to pull out of transactions, the government states that everyone needs to ensure they are following guidance to stay at home and away from others at all times, including the specific measures for those who are presenting symptoms, self-isolating or shielding.

Where house moves are not critical, where the property being moved into isn’t empty and where a delay cannot be amicably agreed upon, buyers and sellers are being encouraged to postpone their moves to a time when the current lockdown measures aren’t in place – or at least to a point where the restrictions on movement have been considerably eased.

It’s important to note that sellers can still list their homes on the market, and accept offers, but listing and completing on transactions is likely to be more difficult and a longer process at present.

In-person viewings are out of the question at the moment, as no visitors are allowed in a home for non-essential reasons, but this is where virtual viewings are taking up the slack. Through the wonders of modern technology, virtual viewings are enabling the buying and selling process to continue, and here at Ideal Locations we are now offering them on all our properties.

Below, we explore what virtual viewings are and what role they might play in getting homes bought and sold.

What are does a virtual viewing offer?

Remote viewings – whether through video tours, virtual reality tours or virtual viewings - have existed in the buying and selling process for some time, but – for one reason or another - have never entered the mainstream as many people still prefer to see a house in person before making an offer.

Nevertheless, since the social distancing and then the lockdown measures were put in place, virtual viewings have boomed in popularity. Demand is still there from buyers, who are spending the extra time at home to browse for their dream home and put their home-buying plans into action, while sellers are still listing and advertising their homes for sale to take advantage of the extra exposure the current lockdown offers.

On a basic level, virtual viewings allow prospective purchasers to view a property remotely, walking through each part of the house as if they were really there in the flesh.

Depending on the technology involved, would-be buyers can stop and walk around a specific room, or hone in on a particular part or feature of the home.

Virtual viewings are usually professionally crafted video tours with various features included. However, where such tech was not in place before the lockdown – and can’t safely be added now – some agents are asking sellers to use their smartphones, cameras or other smart devices to film their own virtual tours. This footage is then given to the buyers to watch, and there have been a number of stories of sales happening as a result of this.

Even if a DIY approach is required by the seller, the high-tech nature of most smartphones and tablets these days means that very high-quality videos can be taken. Free video editing software is also available to enhance footage and add features where necessary.

Although a virtual viewing will never replicate the sights, sounds and feel of a physical viewing, it can offer an excellent first impression and is the next best thing to the real thing.

Importantly, it can offer buyers a clear idea of whether the home fits their buying brief. Virtual tours can provide an excellent indication of the layout of a home, what its main attributes are and how much garden space will be at a buyer’s disposal. A buyer should know, after undertaking a virtual viewing, if the home in question is the sort of home they could imagine themselves living in.

Can a virtual viewing sell a home on its own?

In some cases, yes, buyers could be willing to place an offer off the back of a virtual tour and gut instinct alone.

For the majority, though, it’s likely that buyers will want to see the house they are looking to buy in person. That said, a virtual tour is an excellent way of sorting out the serious buyers from the ones who aren’t really interested – which will potentially help to speed up a sale for all parties once restrictions are lifted.

After all, if a buyer isn’t impressed by what greets them in the virtual viewing, it seems highly unlikely that they will pursue things further when physical viewings are allowed again. However, if they do like what they see, their appetite will have been whetted and they are therefore more likely to be a serious buyer when they come to view the seller’s home in person.

Promisingly, it’s predicted that the sales market will recover in a big way once the lockdown measures have been relaxed or lifted. The evidence suggests that sentiment from buyers and sellers remains very high despite the challenges posed by the Covid-19 pandemic. According to recent research from home moving comparison site Reallymoving, the vast majority (75%) of current home movers are keen to push ahead with their house moves at the earliest possible opportunity.

Equally, more than 90% of sellers who have listed their property on the market but have yet to find a buyer plan to leave it listed during the lockdown period to take advantage of potential buyers browsing for homes. By contrast, just under 7% of buyers and sellers with an offer agreed say they are no longer willing or able to go ahead.

There has also been speculation that estate agent offices could be one of the first high street premises to reopen once the lockdown lifts, given their status as a multiplier. This could mean that the housing market is kickstarted quicker than other industries and house sales – while still adhering to social distancing – are able to push ahead.

Here at Ideal Locations, we understand the current difficulties being posed by the coronavirus – and the dramatic changes it has caused to all our lives. And we are here to help sellers through this difficult situation, using our local knowledge and experience to ensure your home is ready for sale once lockdown is ended.

You can contact us for more information about selling a home in locations such as Hornchurch, South Woodford, Romford and Southend-on-Sea, and you can also request a free instant online valuation to find out what your property could currently be worth.

Comments


x